Mortgage Resources

HOme construction Montana

Building your Dream Home – Construction Loan Options

Is building your dream home at the top of your New Year’s Resolution list? How about a VA, or FHA-Backed Construction Loan with no extra money down, and no extra credit score or income requirements? Well, now it is possible to receive a true Construction Loan originated by Black Diamond Mortgage with our ‘1 Time […] Read more

Buying a Home

How Much ‘Home’ Can We Afford?

The question is not about the ‘size’ of the shoe but about how well the foot fits! First off, it is important to understand your overall debt before looking at buying at home. This includes everything from your regular monthly living expenses, to your credit card debt, loans (including student loans, car payments, unsecured debt) […] Read more

How to improve your credit score

6 Easy Ways to Improve Your Credit Score

With all the different kinds of information that credit scoring models incorporate, numerous tactics for improving scores are available. However, any action to improve a credit score must be taken judiciously: some actions aimed at improving your score may actually make it worse.   Many individuals reap significant benefits by properly employing these simple FICO […] Read more

What to expect in a mortgage transaction

What to Expect in a Mortgage Transaction

Welcome to Black Diamond Mortgage! Here are some important things to know about the process that will last typically between 2-5 weeks, depending on your contract and the complexity of your transaction: ***Please read our Identity Theft Education Page to learn how to keep your own information safe. ***Are you getting an Adjustable Rate Mortgage […] Read more

How Interest Rates work

How Interest Rates Work

Many people are surprised when they learn how mortgage interest rates are determined. Most people understand the fundamental principle: the lowest interest rates cost more to obtain and the higher interest rates cost less. The graph above shows how you can obtain rates where there are “no real costs” (often absorbed by the lender offering […] Read more

Approved

Qualifying / Pre-Qualifying for Mortgages

  At Black Diamond Mortgage Corporation, we receive a lot of requests for loans. Many times people wonder how the decision is made to approve or deny their loan application. While there are thousands of pages of guidelines used in determining the quality of a borrower’s loan application, there are 3 categories of important criteria […] Read more

Short-Sales

Is a short sale better than a long sale?

Don’t we all want a short sale?        Well, not necessarily… it depends… by guest blogger:  Jill Carter-Jones Broker, Realtor, e-Pro, Short Sale Certified jill@jillcarter-jones.com What is a short sale? A short sale is the process that occurs when a lender or bank agrees to accept less money for a property than the amount that is […] Read more

Is your Mortgage Underwater

Noah’s Ark-Underwater Mortgages

Yes, in Noah’s time, EVERYTHING was under water. Today, half of homes in some cities are underwater. This means that the homeowner’s mortgages are larger than the current home value. Since 2009, the government has created programs to refinance underwater homes. Black Diamond Mortgage Corporation is in partnership to deliver many of these loan programs and can […] Read more

Black Diamond Mortgage Calculators

Mortgage Calculators

Use these tools to help you plan your purchase or refinance. You can print your calculations and financing plans to take with you as you shop for a home. If you need guidance in selecting an accurate interest rate, or to interpret the various calculators, contact one of our loan officers for assistance. (Please click […] Read more

spec house photo

USDA RD Purchase Loan

  USDA: Rural Development Purchase Loan First time home buyers, but ALSO for primary residence purchases Minimal monthly mortgage insurance Closing costs CAN be financed Lower than Prime Credit Scores can be approved Flexible underwriting guidelines allow for more approvals This is the best product for a home buyer to enter the real estate market for the […] Read more